Obama administration tried secret bank workaround for Iran, new report says
09 June, 2018, 20:35
Even after Former President Barack Obama told Congress Iran would be barred from the US financial system, he gave them access anyway.
The $5.7 billion was frozen in Oman's Bank Muscat in that country's currency, the rial, which is pegged to the USA dollar and hard to convert.
"A State Department official even suggested that Secretary Kerry or Secretary Lew should contact the US banks and encourage them to facilitate the conversion", the report goes on to say, "Both banks declined to complete the transaction due to compliance, reputational, and legal risks associated with doing business with Iran". Senior U.S. government officials repeatedly testified to Congress that Iranian access to the U.S. financial system was not on the table or part of any deal.
He said he'd reimpose sanctions and work with US allies to "find a real, comprehensive and lasting solution to the Iranian nuclear threat". The banks refused, however. "Going forward, this report underscores how important the USA financial system is to global finance markets".
"We owe it to the American people to get to the bottom of whatever else the Obama administration sacrificed at the altar of the Iran deal". Rob Portman, R-Ohio, have revealed in a new report that the Obama administration secretly tried to help Iran use US banks to convert $5.7 billion in Iranian assets, after promising Congress that Iran would not get access to the USA financial system - and then lied to Congress about what it had done.
The findings are at odds with statements from senior Obama White House, State Department and Treasury Department officials who repeatedly said Iran would continue to lack access to the USA financial and commercial markets following the implementation of the Iran deal, also known as the Joint Comprehensive Plan of Action (JCPOA). In July 2015, Treasury Secretary Jack Lew testified before the Senate Foreign Relations Committee that, under the JCPOA, Iran "will continue to be denied access to the [U.S.] financial and commercial market".
The Senate disapproved the deal in September 2015, but not by enough votes to sink it.
McGurn said scandals are the norm in most administrations, but he finds the Obama administration's dealings with Iran in a category of its own that involve misleading Congress and the public.
The Queen's Birthday Parade: Best Photos The entire royal family gathered together on the balcony to watch the iconic fly-past by the Royal Air Force. This year's event marks the Queen's 92nd birthday, although Her Majesty's actual birthday is April 21.
The report says the revelation shows the importance of global access to the US financial system, a factor that should be considered in future negotiations with Iran.
"Shortly after issuing the specific license to use the USA financial system to convert the rials, a Treasury official wrote in an email on the matter, 'I think we earned the right to never discuss this matter ever again.' I disagree", Portman told his fellow Senators.
"As Secretary Lew said in the testimony quoted in the report: 'Part of the agreement was to give Iran access to money that it has a right to". The Obama administration then asked two USA banks to execute the transactions, and they refused to do so. It was created to allow Iran to briefly convert into dollars from Omani rials about $5.7 billion worth of Iranian assets frozen in an Omani bank. Because the rial is pegged to the USA dollar, the most efficient conversion was with an intermediary step through a US bank using US dollars. Both banks declined to complete the transaction due to compliance, reputational and legal risks associated with doing business with Iran.
After Treasury officials were examining whether the Iran deal's relevant sanctions permit currency exchange of rials to dollars, the report says a Treasury official wrote in an email, "Yikes".
That same week, the AP reported that the Treasury had prepared a draft of a license that would have given Iran much broader permission to convert its assets from foreign currencies into easier-to-spend currencies like euros, yen or rupees, by first exchanging them for dollars at offshore financial institutions.
"In the future, whether it is another (Iran) agreement".
The Administration was crystal clear to Congress on this point.
In the midst of NBA Finals, one of the biggest hip-hop battles in years took place between Drake and Pusha T. After both artists released diss records against each other, it was reported that rap mogul J.
That proved to be the final piece of goal-mouth action in the half as England ended their World Cup preparations on a high. Rashford had a disappointing end to United's Premier League season, and Southgate felt he may have been trying too hard.
Trump's comments throw another wrench into the Group of Seven gathering underway in a scenic region just north of the ME border. As he was headed to the G7 summit in Charlevoix, Canada , President Trump told reporters: " Russia should be in this meeting".
The Mission E concept generates almost 600bhp via a lithium-ion battery and two electric motors, one on each axle. What else do we know about the Taycan? The electric sports vehicle is expected to go on sale at the end of 2019.
Vestberg, 52, joined the wireless provider a year ago and has been working on Verizon's networks, including the 4G LTE network. Verizon Communications has named Ericsson former CEO Hans Vestberg as the next CEO and the successor to Lowell McAdam .
However, he was beaten in the most recent - the US Open semi-final previous year - and has lost nine of their 14 matches overall. At the French Open this year, Nadal has looked sluggish in the opening exchanges. "He's been a very complex opponent".
Some of the visitors got even closer, agitating the bison and provoking it to cross the boardwalk and charge into Hancock. Hancock is the second person to be attacked by a bison this year, and the third hurt by wildlife in less than a week.
The former England global football player is pictured posing for a photograph during an Adidas event on March 6, 2018 in Paris. The reps reiterated: "There is no statement due, no divorce, and a lot of Chinese whispers and fake social media news".
It is now the 10-leading cause of death in the US , and is one of only three leading causes of death that are on the rise. Despite this, she said there are studies that show a rise in teen suicide during the time the series began streaming.
What to do if you suspect someone is suicidal
Commenters on Munn's post emphasized the need to talk about suicide and mental health on a larger scale. Suicide rates were higher among males in Maryland, ranging from about 17 to 18 per 100,000 males.
Anthony Bourdain left a mark in Denver
I come from a place where you don't know your neighbors. "There was a sense of him turning on when the camera was on", she said . Meanwhile, business analyst Darren Rovell tweeted , "Devastated to learn of Anthony Bourdain , whom I admired from afar".
TV The Trailer For The Girl in the Spider's Web Is Here
And, while the last Millenium film was directed by David Fincher , this adaptation is helmed by Fede Álvarez ( Don't Breathe ). There was also a successful Swedish adaptation of Larsson's trilogy, starring Noomi Rapace ( Prometheus ) as Salander.